Japanese Crypto Association Unveils Plans For Its Major Cryptocurrency Exchanges

Japanese Crypto Association Unveils Plans For Its Major Cryptocurrency Exchanges

The new Japanese cryptocurrency association comprising of sixteen governments has unveiled its plans for its cryptocurrency exchange. The company has set a target spearhead self-regulation in order to rebuild the public’s trust in the crypto industry. The group held a press conference on Monday and planned to fully launch a crypto exchange. The company had

The new Japanese cryptocurrency association comprising of sixteen governments has unveiled its plans for its cryptocurrency exchange. The company has set a target spearhead self-regulation in order to rebuild the public’s trust in the crypto industry.

The group held a press conference on Monday and planned to fully launch a crypto exchange. The company had planned for SBI Virtual Currencies to launch “in the autumn of 2017 and at the latest the beginning of 2018

However the plan was battered following Coincheck hack and it was then postponed with its agreement with business alliance China’s Huobi Group. This situation led the company desist from fully launching the exchange even though it had already received a license from the Japanese Financial Services Agency (FSA) in September 2017.

As for which cryptocurrencies will be supported when the full launch comes, Kitao said that “it is assumed to be major virtual currencies, including bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH), [and] ripple (XRP),” the news outlet detailed.

Taizen Okuyama who was appointed the chief of the new organization stated:

We’ll pursue self-regulation to further the market’s healthy development and allay uncertainty among cryptocurrency users.

President and CEO Yoshitaka Kitao said at a press conference this week that the company is planning to officially start the crypto exchange business in the summer, the news outlet conveyed.